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AHP, Elan in vaccine deal
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April 5, 2000: 10:32 a.m. ET
American Home in pact with Irish firm, Elan, to develop Alzheimer's vaccine
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NEW YORK (CNNfn) - Drug maker American Home Products Corp. struck a biotechnology alliance Wednesday with Elan Corp. PLC of Ireland to develop a potential vaccine for Alzheimer's disease.
Dublin-based Elan (ELN: Research, Estimates) has begun early-stage clinical trials of an experimental therapy called AN-1792, which is designed to reduce and prevent the development of amyloid plaque, a substance that may play a role in causing Alzheimer's disease.
If successful, the vaccine may be used to treat mild to moderate cases of the disease and possibly prevent its onset, Elan said. Alzheimer's disease, a degenerative disease of the brain, affects about 4 million people in the United States.
Under the deal, Madison, N.J.-based American Home (AHP: Research, Estimates) will make an initial payment to Elan. The amount was not disclosed. AHP will make additional payments to the company based on development benchmarks and regulatory milestones. The two companies will split the costs and revenues for the vaccine.
AHP stock slipped 1-7/8 to 54-5/8 Wednesday morning. Shares of Elan, which are trading near 52-week highs, lost 1/8 to 46-3/4. 
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